It is known that polyvinylpyrrolidone and Rafoxanide form a water soluble complex, however, there has been no readily available process with which to form such a complex. Rafoxanide is very poorly soluble in water and most organic solvents. Complexes are generally prepared by dissolving both components in a single solvent or a system of solvents, in which the complex is formed, evaporating the solvent or solvents, and dissolving the complex in water. No water-miscible solvent exists in which both Rafoxanide and polyvinylpyrrolidone are soluble. The complex has been formed by dissolving both components in ethyl acetate, forming the complex, spray drying the solution, and dissolving the solid in water. However, this process is slow, expensive, and a large capital investment is required for the spray drying equipment. The instant process is fast and inexpensive and affords a water solution of the Rafoxanide-polyvinylpyrrolidone complex suitable for injection.